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Tuesday, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
 It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of sell offs in the technology sector.
According to George Lazaridis, Head of Research & Valuations of Allied Shipping, at the face of it, it may well sound as if this is something restricted to an industry which is disconnected in its most part from the shipping industry. However, in part these tremors being noted in the form of price drops in equities are tied in part to the overall friction being seen in global trade. It has been just over two weeks since US President Donald Trump announced import tariffs on steel and aluminum, and the geopolitical aftershocks are still being felt. The period just after the announcement seems to be mainly characterized by a number of countries, including but not limited to Australia, the European Union and Japan, pushing to win exemptions from these newly announced tariffs. Yet, things seem to be taking a darker tone now, with a number of these countries now vowing to act through reprisal levies and tariffs on US imports.
George Lazaridis further noted that, as an overall read-through, the main note that most of us in shipping have taken is that these current tariffs have a limited direct effect on shipping markets. China, which is the leading producer of both these commodities has a minute share in the overall imports entering the US, despite the fact that the US President has focused on China in his usual populist rhetoric with regards to trade. China’s exports of steel and aluminum to the US amount to only just 0.03% of its GDP, while it only makes up around 4% of total steel imports into the US. The biggest threat has been to the US market’s main suppliers, which are the European Union, Canada, S. Korea, Mexico, Brazil and Japan, with Canada and Mexico having for the moment escaped the current levies as part of the ongoing negotiations with regards to the NAFTA trade agreement.
George Lazaridis Allied noted that, the majority of the rest seem to be taking the option of retaliatory levies quite seriously, while despite China being relatively unaffected for the time being, they have also joined in the general discussion proactively, possibly taking this opportunity to proclaim themselves as defenders of free trade.
The risk of a wider trade war sparking off does lay in the realm of possibility right now, yet even if things were to escalate to such a level, the negative effects on shipping would most likely come in the form of gradual waves. Under such a scenario we would likely see most retaliatory tariffs and levies being placed on finished final goods, possibly causing a disturbance on the containership market first and limited to mainly this sector in the initial phase. It would take a while before we would see a gradual slump emerge on the demand for raw materials, as the overall slump in global demand for finished products would slowly push purchasing managers to cut back their requirements.
This all sounds like a dire scenario indeed and most would be in angst as to the actual probability of such a series of events pulling through, especially given that we have only just started to see a favourable environment emerge in terms of global trade. The general thought and hope for the time being is that to some degree the US President will back down having been brought to his senses in a similar fashion to how back in the early 2000’s George W Bush eventually backed down on his protectionist steel-tariff plan. Lets hope things aren’t taken too far too quickly and we miss the point of no return.
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Tuesday, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
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- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
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